The Government has approved the sale of almost UAH 1.8 billion worth of court-confiscated bonds by the Asset Recovery and Management Agency (ARMA). This was announced by Prime Minister of Ukraine Denys Shmyhal during a meeting of the Cabinet of Ministers on 14 March. The proceeds will be transferred to the budget and directed to the Ukraine Recovery Fund.

Denys Shmyhal noted that the Government had already allocated tens of billions of hryvnias received from sanctioned persons, russian banks and companies to restore and protect the country.

The Prime Minister stressed that the state took measures to confiscate assets both in Ukraine and abroad. According to Denys Shmyhal, the priority for this year is to create a mechanism for the confiscation of frozen russian assets, which should become the main source of reconstruction.

"Ukraine will seek full confiscation. While this process is ongoing, we continue to receive proceeds through the frozen assets,' the Prime Minister stressed and added that last week Ukraine had received GBP 752 million from the UK and yesterday CAD 2.5 billion from Canada. These funds, secured by the proceeds from russian assets, are being used for defence and the priority needs of the budget.